The study of consumer behavior is the study of how individual
make decisions to spend their available resources (time, money, effort) on consumption related items. It includes study of what they buy, why they buy it, when they buy it, where they buy it and how often they use it.
Consumer behavior is the process and activities people engage in when searching for, selecting, purchasing, using, evaluating and disposing of produces and services so as to satisfy their needs and wants. CHARACTERISTICS COMPRISES OF BOTH MENTAL AND PHYSICAL ACTIVITIES OF CONSUMER. BUYER BEHAV. IS VERY COMPLEX. IT IS INFLUENCED BY INTERNAL AND EXTERNAL FACTORS. INVOLVES BOTH PSYCHOLOGICAL AND SOCIAL PROCESS. CONSUMERS ACT DIFFERENTLY AT DIFFERENT TIMES EVEN TO SAME STIMULUS THEY OFTEN ACT EMOTIONALLY RATHER THAN RATIONALLY. ALL CONSUMERS ARE DIFFERENT FROM EACH OTHER IN ALL RESPECT.
IMPORTANCE OF CONSUMER BEHAVIOUR PRODUCTION POLICIES PRICE POLICIES DECISION REGARDING THE CHANNEL OF DISTRIBUTION. DECISION REGARDING SALES PROMOTION EXPLOITING MARKETING OPPOURTUNITIES RAPID INTRODUCTION TO NEW PRODUCT. CONSUMER PREFERENCES ARE CHANGING AND BECOMING HIGHLY DIVERSIFIED CONSUMER BUYING ROLES BUYING ROLES DECIDER BUYER INITIATOR INFLUENCER GATE KEEPER USER CONSUMER BUYING ROLES BUYING ROLES
Initiator Influencer Gate Keeper Decider Buyer User
CONSUMER BUYING PROCESS Need recognition Information search Evaluation Of Alternatives Purchase Decision Post Purchase decision Consumer Buying Process Steps Need Recognition Information Search
Evaluation Of Alternatives Purchase Decisions Post-purchase Decisions
High involvement Low involvement P.P satisfaction P.P action P.P use ORGANISATIONAL MARKETS
The place where industrial buyers come into direct contact with industrial sellers is called as Industrial market.
Acc to philip kotler:industrial goods are those products which are destined to sell primarily for use in producing other goods or rendering services as contrasted with goods destined to be sold primarily for consumption to the ultimate consumer Classification of INDUSTRIAL MARKETS BUSINESS MARKET PRODUCERS RESELLERS ORGANISATIONS Fishing, agriculture and lumber industries Manufacturers of consumer goods and component part Services, including financial, transportation, restaurants, hotel, health care,etc Wholesalers & distributers Retailers Govt. Non-profit organizations MARKETING PLANNING
Marketing planning is a part of the process of overall planning of a business and industrial enterprise. Marketing planning includes sales forecasting, determination of marketing objectives, and the formulation of marketing programmes and policies for the achievement of this objectives.
Marketing planning is concerned with the identification of resources that are available and their allocation to meet specified objectives. OBJECTIVES OF M.P.
Allocation of scarce resources Assisting firm to adapt envt. opportunities Co-ordinating the marketing strategic activities Introducing a systematic approach.
ELEMENTS OF M.P Mission Objectives Strategies Policy Procedure Programme Schedule Budget
IMPORTANCE
To offset future uncertainties Help in management by objective Helpful in co-ordination Helpful in control Performance standard Optimum utilization of resources
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